Create Formula Groups Using Calculation Engine
Create a custom formula or verify the one you want to associate to a formula group exists.
Formula Groups contain sets of bill rate formulas that calculate billable amounts based on the work type. Formula Groups are assigned to jobs and work orders.
When your program needs billable values in VNDLY calculated differently from the default system configurations, you can create and manage formula groups to assign to jobs and work orders for timekeeping to use when running calculations.
- From the header, select .
- UnderAccounting, selectCalculation Engine.
- Select theFormula Groupstab and clickCreate New.
- Complete the fields.
Option Description Pay TypeThe pay type that can use this formula group. Because the calculations and checks performed can vary by pay type, each type must have its own set of formulas. When selecting formula groups on jobs and work orders, only the formula groups matching the selected pay type will appear. This value cannot be changed after save.Program Rate TypeDesignates if this set of formulas is Bill Rate based or Pay Rate based. Pay Rate based formulas must align to a pay rate rate card. If using Bill Rate based, calculations start from the Work Order Bill Rate. If using Pay Rate based, calculations can start from the Work Order Pay Rate and Markup. This value cannot be changed after save.- Bill Rate Based: Calculations for billable amounts start from the bill rate. Pay Rate and Markup are collected and stored for reference purposes, but are not used in calculations for billing on entered time.
- Pay Rate Based: Calculations for billable amounts start from the pay rate. These calculations must align to a Pay Rate Rate Card, and users are allowed to enter the pay rate and markup, and the bill rate is calculated. Values can be entered between the pay rate and the bill rate in any order.
Formula SelectionSelect an existing formula to calculate the billable amounts for time billed against work orders using this formula group. If you enabled advanced editing, other non-bill rate formulas display.Add Override FormulaYou can utilize override formulas to create exceptions where a type of work should be calculated differently from the default. - ClickSave.